ITC ready to export rice in a big way
THE international business division of the ITC is willing to take up rice exports on a large scale if the Food Corporation of India (FCI) agrees to waive the one per cent market cess on paddy, as it is proving to be uneconomical, Mr S. Sivakumar, ...
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HP launches IT lab in India
HP has announced the launch of HP Labs India in Bangalore, which will develop low-cost innovative solutions for the local market. HP Labs India is the seventh such centre in the world and is part of the company's worldwide strategy to take IT to ...
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Ranbaxy gets marketing rights for Nifedipine
RANBAXY Laboratories Ltd and Penwest Pharmaceuticals Co of the US on Monday announced that they have entered into an agreement, which gives Ranbaxy exclusive marketing rights for Nifedipine XL in select markets. Under the agreement, Ranbaxy ...
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Strike at Toyota plant banned
THE ongoing strike at Toyota Kirloskar Motors (TKM) has entered a new phase with the State Government referring the dispute to the labour court and banning the strike. Mr D.N. Narasimha Raju, Commissioner of Labour, told Business Line ...
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DCA seeks details about Hutchison equity pattern
The department's attention has been drawn to the fact that despite sticking to the 49 per cent FDI cap in telecom, the Hong Kong-based company has managed to acquire management control indirectly through a "complex financial engineering exercise''.
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CORPORATE DISPUTES

Malaysian company suit against Incab shareholder
LEADER Universal Holding Berhad , a Malaysian company claiming to be the chief promoter of Incab Industries Ltd (Incab), has filed a suit against Mr S.P. Arya, a shareholder of Incab, asking for a mandatory injunction. The injunction has been ...
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RESTRUCTURING

Taib Bank set to exit Mindteck
Increasing focus on high-ended embedded systems applications and Web-services businesses would help Mindteck shore up its net margins six months down the line, Mr Sumit Ganguli said.
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Parent seeks nod to raise stake in Nestle India
NESTLE India Ltd has informed the Bombay Stock Exchange that Nestle SA Group, Switzerland is seeking approval of the Government to acquire up to 10 per cent of the equity shares from the other shareholders of the company as and by way of creeping ...
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Prabhu stresses need to conserve energy
THE Minister for Power, Mr Suresh Prabhu, has said that there is an urgent need to take up major programmes for conserving energy to meet the country's growing demand for electricity. Speaking at the launching of the Indian Industry Programme ...
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DIVERSIFICATION

CESC strategy gets top `bill'ing
CESC, the first company to have distributed electricity in India on a utility basis, 100 years ago, is planning to diversify  not into an associated line of business but into a radically new area such as event management. Matters are ...
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OUTLOOK

HDFC hopeful of doubling business in Gulf
THE Housing Development Finance Corporation (HDFC) is looking at doubling its business in the Gulf this year in view of the growth potential offered by its expanding NRI customer base in the Gulf states, said Mr Deepak Parekh, Chairman, ...
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